The last fiscal turned out to be a case of mixed fortunes for the Information Technology (IT) companies both considering the export performance as well as sales in the domestic market, reveals a new research from CyberMedia’s Dataquest.

The top 20 IT companies in India including both the hardware and software companies, clocked average revenues of $ 2 billion in the last fiscal. The combined revenues of these top 20 companies was Rs.180,193 crore (USD 39.52 billion) in FY ’10 when compared to Rs.174,605 crore in FY ’09.

The 5 fastest growing companies were SAP India (36% growth to Rs 3,924 crore), HCL Technologies (25% growth to Rs 10,983 crore), Dell India (25% growth to Rs 5,275 crore), Cognizant Technology Solutions (23% growth to Rs 12,741 crore) and Mphasis (19% growth to Rs 3,920 crore).

The top 200 IT companies posted total revenues of Rs 307,126 crore in the year, or a growth of 6.2% (from Rs 289,093 crore in 2008-09).

The number of companies registering zero or negative growth this year rose to 68, compared to 28 a year ago.

MicroSD card demand from the mobile subscribers resulted in SanDisk reporting a three digit growth rate.

Commenting on the wide variation in the performance of the Top 20, Top 50 and Top 200 companies, CyberMedia publisher Pradeep Gupta said, "These mixed signals point to a robust de-risked model in a tough market, where different segments of the industry are trying to cope with industry challenges arising out of the slowdown of the last two years, while grabbing opportunities where they present themselves.”

“For example many hardware vendors grew by changing their distribution models; and the distribution firms looked for newer methods to stay afloat. The aggressive and focused IT services companies are eying acquisition of companies, contracts and talent,” Gupta added.